Since Bob McDonald stepped up to the CEO’s office at P&G, he has been promoting the “purpose driven” growth strategy established by his former boss, innovation leader A. G. Lafley. Now McDonald has expanded the strategy making “touching and improving lives” the mantra of his leadership. “I want to be part of an institution that makes a meaningful difference in the world,” says McDonald. “We make a profit by improving lives.” The company does not improve lives just to make profits, rather it profits by improving lives. “P&G’s purpose inspires and guides everything we do,” he said at the annual shareholders meeting this week.

McDonald’s approach is honorable. I hope it works. He has clearly read from the playbooks of Dev Patnaik and Dan Pink. He recognizes that his employees, consumers, and even some shareholders, want to be part of something bigger than themselves. He’s betting on his purpose driven growth strategy to win over Wall Street and Main Street.
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